TVS Credit Services Ltd Q3 net profit at Rs 97.97 cr, total income jumps

Non-banking finance company TVS Credit Services Ltd has reported a net profit at Rs 97.97 crore for October-December 2022, the company said on Wednesday.

The city-based company, a part of the diversified conglomerate TVS Group, reported the net profit at Rs 55.88 crore during corresponding quarter last year.

The net profit for the nine-month period ending December 31, 2022 was at Rs 278 crore as against Rs 58 crore registered in the same period last year.

Total income during the quarter went up to Rs 1,094.13 crore from Rs 723.60 crore recorded in corresponding period last year.

The assets under management stood at Rs 19,541 crore as of December 31, 2022.

"In Q3 FY '23, our business has witnessed a growth in loan disbursements owing to strong momentum across products. This fiscal we have added over two million customers till date, bringing our total customer base to nearly 10 million," said CEO of the company Ashish Sapra. "We will continue to provide enhanced customer experience and expand our footprint in newer markets," he said.